The Philippines takes on the chairing of APEC at a time of tremendous change in the regional and international economy. The recovery from the Global Financial Crisis remains fragile and to a large extent dependent on extraordinary economic stimulus. During the APEC leaders' meeting in Beijing, key decisions were taken to make progress on key elements of the regional agenda, including on a Free Trade Area of the Asia-Pacific and improving connectivity. The challenge is how regional economies can implement these plans to ensure than regional growth is not only sustainable but also inclusive.

APEC 2015 will take place in a rapidly changing regional and global context. Several mega-trends arechanging not only the shape of the global economy but also the way in which economic interactions takeplace. Energy prices have slumped increasing uncertainty in international markets, income inequality is onthe rise and with it the risk of increased trade protectionism, while middle class consumption in the region’semerging economies and rapid technological advances and adoption present both risks and opportunitiesfor future economic growth.

Session 2: Inclusive Growth: Building Capacity at Individual and Community Levels

In 2010 APEC leaders adopted a growth strategy to provide a comprehensive long-term framework forpromoting high-quality growth in the region. The Growth Strategy focused on the five desired attributes ofbalanced, inclusive, sustainable, innovative, and secure growth. How much progress has been made onthe strategy? What additional actions should APEC economies take to ensure quality growth in the future?

In 2013 APEC leaders stated that seamless physical, institutional, and people-to-people connectivity arecritical prerequisites in attaining the APEC community vision. By connecting the region’s developed andemerging growth centers around and across the Pacific Ocean and within APEC’s archipelagic andcontinental regions. In 2014, APEC leaders endorsed a detailed Blueprint for Connectivity. What actionsshould APEC economies take to implement the Blueprint?

Since 2010 regional economies have emphasized the need for inclusive growth – which includes ensuringthat the benefits of the economic integration process are more spread out. The challenges are mutilfacted –from the lack of infrastructure to connect second and third tier cities to the need to reform and broaden theeducation system and providing sufficient but sustainable social safety nets. This session will tackle thefinancial aspects of inclusive growth strategies.

1525-1530

Moderator:

Dr Alan Bollard, Executive Director, APEC Secretariat

1530-1550

Lead Panellist:

Mr Cledan Mandri-Perrott, Head of Infrastructure Finance and PPP, Singapore Infrastructure Hub, The World Bank Group pdf
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Regional economic integration initiatives are gaining pace – the ASEAN Economic Community is due to becompleted by the end of 2015, the Regional Comprehensive Economic Partnership is supposed beconcluded by the end of the year and the TransPacific Partnership may gain momentum from PresidentObama’s request for Trade Promotion Authority. While these initiatives promise large economic gains, thechallenge is to ensure that businesses, especially small and medium enterprises are prepared to benefitfrom them.